Fifth Third Wealth Advisors LLC Makes New Investment in Newmont Corporation $NEM

Key Points

• Fifth Third Wealth Advisors initiated a Newmont position by purchasing 15,338 shares valued at approximately $1.77 million. Several other institutional investors also added stakes, bringing institutional ownership to 68.85%.
• Newmont reported strong quarterly results, with EPS of $2.20 beating estimates and revenue rising 15.2% year over year to $6.36 billion. The company also declared a quarterly dividend of $0.26 per share.
• Analyst sentiment remains broadly positive, with a “Moderate Buy” consensus and an average price target of $137.25, although higher costs, increased capital spending and some recent target cuts present risks.

Fifth Third Wealth Advisors LLC bought a new position in shares of Newmont Corporation (NYSE:NEM - Free Report) during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 15,338 shares of the basic materials company's stock, valued at approximately $1,769,000.

A number of other hedge funds also recently made changes to their positions in the business. Sterling Capital Management LLC bought a new position in shares of Newmont during the 3rd quarter worth approximately $12,236,000. TSA Wealth Managment LLC bought a new stake in Newmont in the third quarter valued at $227,000. XXI Wealth LLC acquired a new position in Newmont during the third quarter worth $1,121,000. Seven Mile Advisory acquired a new position in Newmont during the third quarter worth $216,000. Finally, MBL Wealth LLC bought a new position in shares of Newmont during the third quarter valued at $707,000. Institutional investors and hedge funds own 68.85% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on NEM shares. Royal Bank Of Canada upped their target price on shares of Newmont from $135.00 to $155.00 and gave the stock an "outperform" rating in a report on Wednesday, September 16th. BMO Capital Markets increased their price objective on Newmont from $135.00 to $145.00 and gave the company an "outperform" rating in a research report on Tuesday, September 29th. UBS Group cut their target price on shares of Newmont from $140.00 to $120.00 and set a "buy" rating on the stock in a research report on Tuesday, June 30th. BNP Paribas Exane increased their price target on Newmont from $102.00 to $112.00 and gave the company a "neutral" rating in a research note on Monday, August 17th. Finally, Argus set a $110.00 price target on Newmont and gave the company a "buy" rating in a research note on Monday, August 3rd. Two research analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and four have issued a Hold rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $137.25.

Insiders Place Their Bets

In other news, CEO Natascha Viljoen sold 3,882 shares of the firm's stock in a transaction dated Thursday, October 1st. The stock was sold at an average price of $114.81, for a total transaction of $445,692.42. Following the sale, the chief executive officer owned 127,471 shares of the company's stock, valued at $14,634,945.51. This trade represents a 2.96% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Brian Tabolt sold 11,445 shares of Newmont stock in a transaction dated Wednesday, August 5th. The shares were sold at an average price of $105.09, for a total value of $1,202,755.05. Following the transaction, the chief financial officer owned 29,324 shares in the company, valued at $3,081,659.16. This trade represents a 28.07% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 35,973 shares of company stock worth $3,927,169 over the last ninety days. 0.06% of the stock is currently owned by corporate insiders.

Newmont Trading Down 4.7%

Shares of NYSE NEM opened at $108.72 on Friday. Newmont Corporation has a twelve month low of $76.05 and a twelve month high of $135.29. The stock has a market cap of $114.55 billion, a price-to-earnings ratio of 12.64, a P/E/G ratio of 2.02 and a beta of 0.51. The company has a quick ratio of 2.26, a current ratio of 2.55 and a debt-to-equity ratio of 0.15. The company's fifty day moving average is $121.86 and its 200-day moving average is $110.99.

Newmont (NYSE:NEM - Get Free Report) last released its quarterly earnings data on Thursday, October 22nd. The basic materials company reported $2.20 EPS for the quarter, beating analysts' consensus estimates of $1.94 by $0.26. The business had revenue of $6.36 billion during the quarter, compared to analysts' expectations of $6.27 billion. Newmont had a net margin of 34.73% and a return on equity of 30.02%. The firm's quarterly revenue was up 15.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.71 EPS. Equities research analysts predict that Newmont Corporation will post 9.07 EPS for the current year.

Newmont Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 21st. Shareholders of record on Wednesday, November 25th will be paid a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date of this dividend is Wednesday, November 25th. Newmont's payout ratio is presently 12.09%.

Key Newmont News

Here are the key news stories impacting Newmont this week:

• Positive Sentiment: Newmont reported third-quarter adjusted EPS of $2.20, above the $1.94 consensus estimate, while revenue rose 15.2% year over year to $6.36 billion, exceeding expectations. Higher gold prices, stronger sales and improved copper output following the Cadia recovery supported results. Newmont beats quarterly profit estimates on higher gold prices
• Positive Sentiment: Operating momentum and cash generation were favorable: third-quarter free cash flow reached approximately $1.9 billion, and management said the company remains positioned to meet its 2026 production guidance. Newmont also declared a quarterly dividend of $0.26 per share. Newmont: 3 Key Takeaways for Long-Term Investors
• Positive Sentiment: Newmont expects gold production to rebound in 2027, offering a potential future catalyst. RBC Dominion Securities maintained an outperform view and set a $155 price target. RBC Dominion Securities recommendations
• Neutral Sentiment: The company priced the Red Chris block-cave expansion at as much as $4.8 billion, with commercial production targeted for 2033. The project could support long-term growth but adds significant capital requirements and execution risk. Newmont prices Red Chris expansion at up to $4.8B
• Negative Sentiment: Newmont raised its full-year 2026 all-in sustaining cost outlook to approximately $1,520 per ounce. Management also highlighted higher costs, declining silver production and increased capital spending related to Red Chris, tempering the earnings upside. Newmont targets Red Chris production in 2033
• Negative Sentiment: Analyst sentiment was mixed. TD Cowen lowered its price target to $131 from $133, while Freedom Broker downgraded the stock to hold and cut its target to $116. Concerns that Newmont’s strong multiyear rally has already priced in much of its cash-flow potential may be limiting investor enthusiasm. Freedom Broker downgrades Newmont to hold

Newmont Profile

Newmont Corporation NYSE: NEM is a global mining company primarily engaged in the exploration, development, and production of gold. The company also produces copper, silver, zinc, and lead as byproducts of its mining operations. Its activities span the full mining life cycle, including resource discovery, project development, mine operations, processing, reclamation, and closure.

Founded in 1921, Newmont has grown into one of the world's largest gold producers. The company operates and develops mines across several regions, including North America, South America, Australia, Africa, and Papua New Guinea.

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